IRS Releases 2019 Mileage Rates
The Internal Revenue Services (IRS) recently released updated optional standard mileage rates for 2019. These rates are used to calculate the deductible cost of operating an automobile for business, charitable, medical, or moving purposes. The term “automobile” includes any car, van, pickup, or panel truck. As of January 1, 2019, the standard mileage rates are…
Will Gifts Now Using the Temporarily Increased Gift-Estate Exclusion Harm Estates after 2025?
Individuals with large estates generally want to gift portions of their estate to beneficiaries while they are still living, to avoid or lessen the estate tax when they pass away. That can be done through annual gifts (up to the inflation-adjusted annual limit for each gift recipient each year – $15,000 for 2019) and/or by…
Family Business And Social Drive
Family businesses are developing social missions to help the communities they serve. This article discusses how to incorporate a social mission into your family business, and the advantages and disadvantages of a social initiative. To view this article, click the following link to access the original content. https://www.forbes.com/sites/nextavenue/2018/12/06/how-a-family-business-can-develop-a-social-mission/#2ad4de2fcb54
The 1099-MISC Filing Date Is Just Around the Corner – Are You Ready?
If you engage the services of an individual (independent contractor) in your business, other than one who meets the definition of an employee, and you pay him or her $600 or more for the calendar year, then you are required to issue that person a Form 1099-MISC to avoid penalties and the prospect of losing…
10 Ways to Improve Profits in the Coming Year
In the U.S., the economy is thriving and expected to grow over the next few months. Businesses are expanding. The Federal Reserve has inched up interest rates, creating investment opportunities, and lenders are offering small business loans. All of this points to a promising outlook for the coming months. As a small business owner, this…
Growing Small Business Revenue
As a new calendar year begins, it is an important time for small business owners to analyze their priorities and focus on improving their business. This article discusses a few ways your small business can grow revenue in the upcoming year. To view this article, click the following link to access the original content. https://www.dynamicbusiness.com.au/small-business-resources/finance-cash-flow/3-tips-to-help-small-businesses-grow-revenue-in-2019.html
Thinking of Tapping Your Retirement Funds Early? What You Need To Know
If you are suddenly in need of a substantial amount of cash, probably the last thing you should do is tap your retirement funds. They are the key to a financially comfortable retirement. The younger you are, the less likely you are to think about saving for retirement, but you certainly don’t want to end up living off of only Social Security.
Year-end Tax Planning: Have You Ever Thought About Pre-paying Your State Income and Property Taxes?
Doing so may save you tax if you are able to itemize deductions on your federal return. Learn more.